Abu Ghazaleh predicts global recession
The founder of the Talal Abu-Ghazaleh Global Group, Dr. Talal Abu-Ghazaleh, stated that the world is facing a pivotal phase in which the balance of power is shifting towards a reconfiguration, amid rising tensions between the United States and China over global leadership. He warned of significant economic and political repercussions, expecting the global economy to enter a period of deep recession, with increasing tensions among major powers that could escalate into costly military confrontations. He emphasized that the regional changes are linked to the struggle for influence between Washington and Beijing, and highlighted the need to strengthen self-sufficiency in sectors such as food, medicine, and technology to safeguard national security amid international pressures. Additionally, he stressed that the current international system is suffering from a deficit, and that smaller countries can play important roles if they demonstrate will and readiness to maneuver.
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